Even if you had the down payment you might be better off doing 100% financing and investing the cash. If you are forced to pay PMI or have a high second the down payment makes sense when you are paying over 8% on the second. Otherwise I think you are best to keep the cash working for you. Right now if you put money into and HSBC online account you will get 6%. Bottom line liquidity is key and cash gives that to you. My father is a governmetn guy. Was a 15-10 when he finished and he never missed a baseball, basketball or football game. If you are 5 minutes to work and that work is not going to relocate you I would start thinking about owning. I can tell you that depreciation is uncertain but taxes are guaranteed. Besides the Stock Market is at an all time high so we might see correction in the market in the not too distant future.
